AT (NYSE: T) is one of the oldest and largest telecom companies in the U.S., with roots going back to 1876. These days, however, the stock has been synonymous with underwhelming returns and plenty of disappointment. Its 2018 merger with Time Warner didn't pan out, as the company has gone from focusing on growth and expanding into streaming to now just being a regular telecom provider again. But that might not be a bad fit for the business, especially if it can sustain its high dividend, which today yields 7.3%.

CEO John Stankey is optimistic that the company is heading in the right direction. And it may only be a matter of time before the stock begins to turn things around.

Year to date, shares of AT are down 18%. Over a period of five years, they have declined by more than 40%. The stock's abysmal performance has pushed up its yield to more than 4 times the S 500 average of just 1.6%. Investors, however, appear to have doubts about the yield, as there isn't a big rush to buy the stock.

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Source Fool.com